Wednesday, 13 June 2018

Paytm plans to boost its offline digital payments soon !

Paytm is one of the leading Digital Payments is said to be planning to introduce PoS machines at merchant outlets across the country.

Paytm is allowing offline digital payments via card payments at merchant locations. Sources says " The idea is to offer users all forms of digital payments. What Paytm is doing through UPI encouraging bank-to-bank transfers, this is something similar where they are entering into all forms of digital payments through PoS"

As of the sources, Paytm is said to bring in both traditional PoS terminals, which work on GPS or landline as well as mobile PoS terminals, which mostly work through a smartphone. Further told " Paytm already has QR payment facilities, but in locations where people prefer card payments, it will deploy card-reading devices. But QR codes will remain the zero cost method for the merchant."

Paytm will be competing directly with HDFC Bank, Axis Bank, ICICI Bank and State Bank of India, which are the major merchant acquirers in the PoS business.

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